The news: Zip will launch a same-day loan product during the 2026 holiday season for customers in eligible states, per a press release. Dubbed Zip Cash, users can receive up to $500 the day they apply.

This product was designed to address everyday expenses that don’t happen at checkout. Zip said more than 100,000 people have joined the wait list.

How we got here: Demand for cash-flow assistance is spiking among fintechs.

• Small-dollar Cash App Borrow originations grew 59% YoY, per Block’s Q2 earnings.
• Chime’s Instant Loans grew 70% QoQ, with $300 million in loans originated.
• And SoFi notched $10.7 billion in personal loan originations in Q2 2026.

OnePay also pushed into this arena this summer, offering personal loans between $1,000 to $50,000.

Implication for fintechs: Buy now, pay later companies’ consumers are splitting into two groups with two different use cases. 

• Lower-income households are turning to installments to pay for essentials: 29% of US BNPL-using households paid for groceries with BNPL, and 13% used installments for rent, per LendingTree.
• Higher-income households view installment payments as a liquidity tool for big-ticket purchases: 27.5 million households earning more than $125,000 will use BNPL this year, more than any income cohort, per our forecast.

To capture more loan volume opportunities, players need to differentiate their strategies to capture different segments of consumers. Advertising installment checkout availability can help snag younger and lower-income households looking for payment flexibility, while strategic category expansion can help grab loyalty from higher-income consumers unwilling to risk revolving debt for a big ticket item.

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